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2024-12-31-accounts

(Registered Charity No. 214960)

Waddington Hospital Trust

Trustees’ report and financial statements For the year ended 31 December 2024

Waddington Hospital Trust

Contents

For the year ended 31 December 2024

Page
Information 3
Trustees’ report 4 - 7
Independent examiner’s report 8
Statement of financial activities 9
Balance sheet 10
Notes to the financial statements 11 - 23

Page 2

Waddington Hospital Trust

Information

For the year ended 31 December 2024

Charity number 214960 (registered in England and Wales)
Home and Communities Agency numberA2948
Trustees Robert Parker (Chairman)
Mary­Ann Renton
Ian Macalpine
Michael Fisher
Kursty Smith
Elizabeth Rowntree (retired 23 September 2024)
Victoria Robertson
Rev Christopher Wood
Wayne Andrew Ellison
Clerk to the Trustees Catherine Turner
Office Estate Office
Hospital Cottages
Waddington
Clitheroe
Lancashire
BB7 3JB
Bankers Barclays Bank PLC
Leicester,
LE87 2BB
Investment advisers Atomos Investments Limited
24 Monument Street
London
EC3R 8AJ
Solicitors Houldsworth Solicitors
2 and 4 Duck Street
Clitheroe
BB7 1LP
Independent examiner Martyn Dobinson FCA
Saffery LLP
Trinity
16 John Dalton Street
Manchester
M2 6HY

Page 3

Waddington Hospital Trust

Trustees’ report For the year ended 31 December 2024

The Trustees have pleasure in presenting their report and unaudited financial statements for the year ended 31 December 2024.

Structure, governance and management

The Charity was founded in 1680 by Robert Parker who appointed Trustees in 1701. The Charity was approved as a Registered Charity by the Charity Commissioners in 1885 and subsequently also registered as a Housing Association and a Registered Social Landlord.

The Trustees have the legal status of an unincorporated association of persons.

The Charity is governed by a Trust Deed dated the 4 August 1885.

Decisions, including the appointment of new Trustees, are made by the Trustees at quarterly meetings held in March, June, September and December each year.

Day to day management is delegated to the Warden, the Clerk and the land agents John Pallister Chartered Surveyors, with reference to the Chairman of Trustees should they need to do so.

Objectives of the Charity and strategic aims

The objectives of the Charity are to provide homes for the widows of dalesmen and farmers living in Waddington and the 7 adjacent parishes. The Founder adopted a strong Anglican approach in the selection of beneficiaries which is now modified to include those in communion with the Church of England, spinsters and divorcees. Preference is given to the elderly and those with relatives living locally. If vacancies cannot be filled by fulfilling the Founder’s wishes, the local authority may suggest ladies outside the catchment area.

Review of developments, activities and achievements

The Trustees have continued their policy of keeping both the permanent endowment and reinvested properties in a sound state of repair and will wherever possible update the fabric of the buildings owned by the Trust. Over the last few years much has been spent on ensuring that the Trust’s properties are in a good state.

The almshouses have been fully occupied for most of 2024, with no changes in occupancy. There was one vacant cottage by December 2024. During the year boiler replacements were carried out in cottages no: 4 and 8 at a total cost of £3,750. All other repairs expenses relate to general maintenance, annual safety checks and small plumbing and joinery work.

The age of residents ranges from 64 to 92 years old, the longest current occupation of an almshouse being 23 years.

Page 4

Waddington Hospital Trust

Trustees’ report For the year ended 31 December 2024

Public benefit

The entity is a public benefit entity. The Trustees have complied with the duty in section 17 of the Charities Act 2011 to have due regard to all guidance published by the Charity Commission.

Independent examiner

Martyn Dobinson has expressed his willingness to continue in office for the next financial year.

Reserves policy

The Trustees believe that free reserves (total reserves less fixed assets) should be some £750,000 and their policy is therefore to endeavour to build up reserves to that level when annual operating surpluses become available.

The total funds held at the year end by the Charity were £5,274,939 (2023: £5,143,115). The free reserves at the year end, as defined above, were £526,272 (2023: £476,673).

The remuneration of key personnel is discussed and determined by Trustees at the December meeting each year.

Risk management

The Trustees are responsible for the management of the risks faced by the Charity and review periodically the Charity’s risk management processes.

With the help of professional property and investment management the Trustees are satisfied that the major risks identified have been adequately mitigated where necessary. It is recognised that systems can only provide reasonable but not absolute assurance that major risks have been adequately managed.

The Trustees do not believe that there are significant financial risks to the Trust at the present time.

Investment policy and performance

The Charity's investment objective, as set out in the agreement with Atomos Investments Limited, is to maximise total return while providing a level of income determined by the Trustees. The total return in the period to 31 December 2024, defined as all income accruing from the investment portfolio in the year, plus revaluation gains / losses on those investments to the year end date, was a net profit of £38,256 (2023: £43,251). This is kept under review and was considered satisfactory in the current uncertain climate due to significant disposals made in the year of investments not generating sufficient returns.

Financial review

During the year income of £251,994 (2023: £234,291) was received, arising from donations, investment income and rental income.

The Trustees have used this income to provide various maintenance, refurbishment and modernisation of the almshouses.

Page 5

Waddington Hospital Trust

Trustees’ report For the year ended 31 December 2024

The total incoming resources exceeded expenditure by £55,413 (2023: total expenditure exceeded incoming resources by £31,072).

The net movement in funds in the year, as shown in the statement of financial activities, amounted to an increase of £131,824 (2023: £173,530).

The principal funding sources are derived from contributions from residents, rental income from let property and revenue from stocks and shares. No significant events occurred during the accounting year to impact financial performance.

Going concern

The Charity made an operating gain of £131,824 in the year (2023: £173,530). The current year operating gain arose due to a gain on the revaluation of investment property, a net realised gain on listed investments, a net unrealised gain on listed investments and a surplus on charitable activities. The Trust made a gain of £62,061 (2023: loss of £28,319) when excluding losses or gains on revaluations. Although free reserves (defined above) are lower than the Trustees’ target, the Trustees consider the reserves position of the Trust to be adequate to allow the Trust to be able to operate comfortably within its current facilities which have fixed repayment terms and therefore consider it appropriate to prepare accounts on the going concern basis.

Related party transactions

The Trustees consider that the only related party transaction requiring disclosure is the recharge of heat and electricity to the Charity by Browsholme Hall Company. Browsholme Hall Company is related by virtue of the fact that Robert Parker (one of the Trustees) is a partner. Further information is provided in note 21 to the accounts.

Trustees

The Trustees who served during the year are detailed on page 3.

Statement of the responsibilities of the Trustees

The Trustees are responsible for preparing the Trustees’ report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:

Page 6

Waddington Hospital Trust

Independent examiner’s report to the Trustees of Waddington Hospital Trust For the year ended 31 December 2024

I report to the Trustees on my examination of the accounts of the Waddington Hospital Trust (the Trust) for the year ended 31 December 2024.

Respective responsibilities of Trustees and examiner

As the Charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Basis of independent examiner’s report

My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.

Independent examiner's statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Martyn Dobinson FCA Saffery LLP Trinity 16 John Dalton Street 30 April 2025 Manchester Date …………………………… M2 6HY

Page 8

Waddington Hospital Trust

Statement of financial activities

For the year ended 31 December 2024

Notes
Income from
Donations
Investments
3
Rental
Bank Interest
Total
Expenditure on
Property management
Investment
management
Administration costs
Interest payable
6
Total
4
Net gain on
investments
11
Net gains on
revaluation of fixed
assets
9
Net income
9
Transfers between
funds
Net movement in
funds
Reconciliation of
funds:
Total funds brought
forward
18
Total funds carried
forward
18		 2024
Unrestricted
Fund
£
137,607
17,845
95,442
1,100
251,994
(160,814)
(7,175)
(21,193)
(7,399)
(196,581)
20,411
56,000
131,824
­
131,824
5,007,925
5,139,749		 2024
Permanent
Endowment
Fund
£
­
­
­
­
­
­
­
­
­
­
­
­
­
135,190
135,190		 2024
Total
Funds
£
137,607
17,845
95,442
1,100
251,994
(160,814)
(7,175)
(21,193)
(7,399)
(196,581)
20,411
56,000
131,824
­
131,824
5,143,115
5,274,939		 2023
Total
Funds
£
116,797
7,649
108,990
855
234,291
(229,417)
(6,527)
(22,103)
(7,316)
(265,363)
35,602
169,000
173,530
­
173,530
4,969,585
5,143,115

Page 9

2024 2023
Notes £ £
Fixedassets
Tangibleassets 8&10 4,748,667 4,666,442
Currentassets
Investments : 11 464,741 452,248
Debtors 13 15,658 13,112
Cashatbankandinhand 129,437 96,524

609,836
561,884
Creditors:amountsfallingduewithin oneyear 14 (12,964) (14,739)
Netcurrentassets

596,872

547,145
Totalassetslesscurrentliabilities 5,345,539 5,213,587
Creditors:amountsfallingdueafteroneyear 15 (70,600) (70,472)
Netassets . ss

5,274,939

5,143,115
Capitalandreserves
Permanentendowment 18 135,190 135,190
Revaluationreserves 18 4,489,420 4,419,657
Revenuereserve 18 650,329
 588,268

5,274,939
5,143,115

Waddington Hospital Trust

Notes to the financial statements For the year ended 31 December 2024

1. Accounting policies

1.1 Introduction and accounting convention

The financial statements have been prepared in accordance with the accounting policies set out below, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). Exemptions available for smaller charities have been taken where appropriate.

Waddington Hospital Trust meets the definition of a public benefit entity under FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies of the Trust are set out below.

1.2 Going concern

There are no material uncertainties regarding the Charity’s ability to continue as a going concern. At the time of approving the financial statements, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus, the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Income

Donations are recognised by the Charity when they are received. Rental and investment income is recognised by the Charity on the accruals basis.

1.4 Apportionment of management expenses

Direct employee, administration and operating costs have been apportioned to relevant sections of the income and expenditure account on the basis of actual expenditure. Finance and administration costs are further apportioned on the basis of estimated time spent on each activity.

Housing improvements are stated at cost less depreciation. The depreciable amount is the original cost.

Major components are treated as separable assets and depreciated over their expected useful economic lives or the lives of the structure to which they related, if shorter, at the following annual rates:

Structure 50 years
Roofs 50 years
Windows and external doors 30 years
Boiler 8 years
Electrics 30 years
Kitchens 15 years

Page 11

Waddington Hospital Trust

Notes to the financial statements For the year ended 31 December 2024

Investment properties are included in the balance sheet at their fair value at the balance sheet date.

Changes in the market value of investment property, including deficits, are recognised through income and expenditure for the year and taken to a revaluation reserve, unless such deficits are considered to be permanent, in which case they are taken to the revenue reserve.

Equipment is depreciated over its useful economic life estimated at 10 or 5 years.

1.6 Investments

Current asset investments are included in the accounts at fair value. Realised and unrealised gains/losses are shown in the statement of financial activities with realised gains/losses being included in the revenue reserve and unrealised gains/losses being included in a revaluation reserve, only being transferred to the revenue reserve as the investments to which they relate are disposed.

1.7 Financial instruments

The Charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Charity's balance sheet when the Charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, including trade and other debtors, are initially recognised at the amount receivable. They are subsequently measured at the cash expected to be received and are not discounted.

Other financial assets

Other financial assets, including investments in equity instruments, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in income and expenditure.

Impairment of financial assets

Financial assets, other than those held at fair value through income and expenditure, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. The impairment loss is recognised in income and expenditure.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership to another entity.

Page 12

Waddington Hospital Trust

Notes to the financial statements For the year ended 31 December 2024

Classification of financial liabilities

Financial liabilities are classified according to the substance of the contractual arrangements entered into. Basic financial liabilities, including trade and other payables and bank loans are initially recognised at transaction price, being the amount payable. Trade and other payables are subsequently measured at the cash expected to be paid and are not discounted. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliability. Provisions are normally recognised at their settlement amount.

Derecognition of financial liabilities

Financial liabilities are derecognised when, and only when, the Charity’s obligations are discharged, cancelled, or they expire.

1.8 Employee benefits

The costs of short­term employee benefits are recognised as a liability and an expense.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the Charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.9 Taxation

For taxation purposes the Trust has charity status and accordingly is exempt from tax on its investment and rental income and on its capital gains.

1.10 Value added tax

Irrecoverable value added tax is aggregated with the expenditure to which it relates.

Page 13

Waddington Hospital Trust

Notes to the financial statements

For the year ended 31 December 2024

2. Comparative statement of financial activities

Income from
Donations
Investments
Rental
Bank interest
Total
Expenditure on
Property management
Investment management
Administration costs
Interest payable
Total
Net gain on investments
Net gains on revaluation of
fixed assets
Net income
Transfers between funds
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 2023
Unrestricted
Fund
£
116,797
7,649
108,990
855
234,291
(229,417)
(6,527)
(22,103)
(7,316)
(265,363)
35,602
169,000
173,530
­
173,530
4,834,395
5,007,925		 2023
Permanent
Endowment
Fund
£
­
­
­
­
­
­
­
­
­
­
­
­
­
135,190
135,190		 2023
Total Funds
£
116,797
7,649
108,990
855
234,291
(229,417)
(6,527)
(22,103)
(7,316)
(265,363)
35,602
169,000
173,530
­
173,530
4,969,585
5,143,115

Page 14

Waddington Hospital Trust

Notes to the financial statements For the year ended 31 December 2024

3.
Investment income
4.
Expenditure
Investment income comprises:
Dividends from investment portfolio
Interest from investment portfolio
Expenditure comprises:
Property management
Property repairs and maintenance
Rates and utilities
Wages
Land agent fees
Depreciation
Investment management
Investment manager fees
Administration
Independent examination fees
Accountancy fees
Professional fees
Other administrative expenses
Interest payable
Interest payable		 2024
£
17,428
417
17,845
2024
£
71,945
22,114
40,418
19,989
6,348
7,175
1,000
3,932
2,090
14,171
7,399
196,581		 2023
£
7,203
446
7,649
2023
£
155,376
12,966
36,361
19,714
5,000
6,527
1,000
2,948
2,043
16,112
7,316
265,363

Page 15

Waddington Hospital Trust

Notes to the financial statements For the year ended 31 December 2024

5. Staff numbers and costs

The average number of staff for the year was 3 (2023: 3). The cost of these employees was as follows:

Wages
Employer’s pension cost		 2024
£
40,115
303
40,418		 2023
£
36,296
65
36,361

No remuneration was paid or expenses reimbursed to any Trustees during the year (2023: £Nil). Key management personnel received remuneration of £34,558 (2023: £31,046) during the year.

There are no employees that received in excess of £60,000 of benefits during the year (2023: None).

6. Interest payable and similar charges

Interest on housing corporation loan
Interest on bank loan
Bank charges		 2024
£
3,617
3,589
193
7,399		 2023
£
3,650
3,491
175
7,316

7. Taxation

The Trust is a registered Charity No. 214960 and therefore no liability to taxation arises.

Page 16

Waddington Hospital Trust

Notes to the financial statements For the year ended 31 December 2024

8. Fixed assets

Housing
improvements
£
Cost
At 1 January 2024
117,267
Additions in the year
32,573
Disposals in the year
­
Revaluation
­
At 31 December 2024
149,840
Depreciation
At 1 January 2024
43,217
Charge for the year
6,348
On disposals
­
At 31 December 2024
49,565
Net book value
At 31 December 2024
100,275
At 31 December 2023
74,050		 Investment
property
£
4,592,392
­
­
56,000
4,648,392
­
­
­
4,648,392
4,592,392		 Equipment
£
25,721
­
­
­
25,721
25,721
­
25,721
­
­		 Total
£
4,735,380
32,573
­
56,000
4,823,953
68,938
6,348
­
75,286
4,748,667
4,666,442

As at 31 December 2024, the investment properties were valued on an open market value basis by John Pallister Ltd FAAV, Agricultural Valuers. This is considered to be the fair value of the assets.

The historical cost of the properties is £179,897 (2023: £179,897).

9. Statement of historical cost surpluses

Profit on activities for the year
Revaluation of property
Historical cost surplus for the financial year		 2024
£
75,824
56,000
131,824		 2023
£
4,530
169,000
173,530

Page 17

Waddington Hospital Trust

Notes to the financial statements For the year ended 31 December 2024

10. Fixed assets

Other freehold land and property

The following land and property is held by the Trust under permanent endowment:

Ancient possessions:

1 Waddington Hospital : 24 Almshouses Warden’s House Chapel Administrative Building

Reinvested properties:

Page 18

Waddington Hospital Trust

Notes to the financial statements For the year ended 31 December 2024

11.
Investments
2024
£
Market value at 1 January 2024
452,248
Additions at cost
85,159
Disposals at market value
(93,077)
Realised investment gains
6,648
Unrealised investment gains
13,763
Market value at 31 December 2024
464,741
The historical cost of listed investments is £420,500 (2023: £421,770).
The classes of investments held at the year end were as follows:
Listed
Other
Cash on deposit
Market value of investments (including cash) as at 31 December 2024
12.
Financial instruments
2024
£
Carrying amount of financial assets
Debt instruments measured at amortised cost
­
Carrying amount of financial liabilities
Measured at amortised cost
83,564		 2023
£
103,157
533,038
(219,549)
2,753
32,849
452,248
Market
Value
£
464,741
­
8,339
473,080
2023
£
­
85,211

Page 19

Waddington Hospital Trust

Notes to the financial statements For the year ended 31 December 2024

13.
Debtors
Prepayments
14.
Creditors: amounts falling due within one year
Current part of bank loan (Note 15)
Current part of housing corporation loan (Note 15)
Other creditors and accruals
15.
Creditors: amounts falling due after more than one year
Housing corporation loan
Less: due within one year (Note 14)
Bank Loan
Less: due within one year (Note 14)
The bank loan is secured on Twitter Farmhouse.		 2024
£
15,658
15,658
2024
£
3,045
395
9,524
12,964
2024
£
36,829
(395)
37,211
(3,045)
70,600		 2023
£
13,112
13,112
2023
£
6,717
359
7,663
14,739
2023
£
37,188
(359)
40,360
(6,717)
70,472

Page 20

Waddington Hospital Trust

Notes to the financial statements For the year ended 31 December 2024

16.
Housing corporation loan is repayable in instalments:
Due within one year
In more than one but not more than two years
In more than two but not more than five years
In more than five years
17.
Barclays loan is repayable in instalments:
Due within one year
In more than one but not more than two years
In more than two but not more than five years
In more than five years		 2024
£
395
395
1,185
34,854
36,829
2024
£
3,045
3,045
9,136
21,985
37,211		 2023
£
359
359
1,077
35,393
37,188
2023
£
6,717
6,717
20,150
6,776
40,360

Page 21

Waddington Hospital Trust

Notes to the financial statements For the year ended 31 December 2024

18.
Analysis		 of movement in charitable funds
Funds 1 Net movement Funds 31
January Incoming Resources on December
2024 resources expended investments Transfers 2024
£ £ £ £ £ £
Unrestricted
funds
Revenue
reserve 588,268 251,994 (196,581) ­ 6,648 650,329
Investment
revaluation
reserve 30,478 ­ ­ 20,411 (6,648) 44,241
Property
revaluation
reserve 4,389,179 ­ ­ 56,000 ­ 4,445,179
Restricted
funds
Permanent
endowment
fund 135,190 ­ ­ ­ ­ 135,190
Total funds 5,143,115 251,994 (196,581) 76,411 ­ 5,274,939

Gains and losses arising on investments, insofar as they are realised, are recognised in the revenue reserve.

Gains and losses arising on investments, insofar as they are not realised, and arise on revaluation of investments still held at the year end, are recognised in the investment revaluation reserve.

Where gains and losses previously recognised through the investment revaluation reserve are now realised as a result of the investment being sold, the appropriate amount is transferred from the investment revaluation reserve to the revenue reserve. The amount transferred between the reserves in the year is a result of such realisation of historic investment gains and losses.

Changes in property valuations are recognised through the property revaluation reserve. When property revaluations are realised by virtue of the property being sold, the property revaluations are transferred from the property revaluation reserve to the revenue reserve.

Page 22

Waddington Hospital Trust

Notes to the financial statements For the year ended 31 December 2024

19. Analysis of net assets between funds

Fixed assets
Cash at bank and in
hand
Other net assets
Total		 Revenue
reserve
Investment
revaluation
reserve
Property
revaluation
reserve
Permanent
endowment
fund
Total
£
£
£
£
168,298
­
4,445,179
135,190
4,748,667
129,437
­
­
­
129,437
352,594
44,241
­
­
396,835
650,329
44,241
4,445,179
135,190
5,274,939

20. Capital commitments

At 31 December 2024 there was capital expenditure authorised and committed of £Nil (2023: £Nil).

Contracts for capital expenditure authorised by the Trustees which have not been contracted for amount to £Nil (2023: £Nil).

21. Related party transactions

Total amounts charged to the Trust during the year relating to heat and electricity by Browsholme Hall Company amounted to £1,445 (2023: £1,301). Browsholme Hall Company is related by virtue of the fact that Robert Parker (one of the Trustees) is a partner.

There are no amounts owing to or from any related parties at the current year end (2023: £Nil).

22. Ultimate controlling party

The body of Trustees are the ultimate controlling party of the entity.

Page 23